According to the decision of HOSE, all nearly 710 million FLC shares will be officially delisted from February 20. The reason given by HOSE is that FLC seriously violated its information disclosure obligations and other cases that HOSE and the State Securities Commission (SSC) deemed necessary to delist to protect the interests of investors, which are cases of securities subject to mandatory delisting according to the provisions of Clause 1, Article 120 of Decree 155/2020/ND-CP dated December 31, 2020.
A project of FLC Group
Previously, FLC shares were suspended from trading since September 9, 2022 and stopped at VND 3,570/share. According to HOSE, FLC continued to violate information disclosure regulations after being placed on restricted trading, which is a case of securities being suspended from trading according to regulations. Specifically, FLC has not held an annual general meeting of shareholders even though it has been more than 6 months since the end of the 2021 fiscal year, has not published the 2021 audited financial statements and has not selected an auditor for the financial statements.
Officially delisting FLC shares
Recently, FLC Group announced the convening of the 2nd Extraordinary General Meeting of Shareholders in 2023. Accordingly, this extraordinary meeting of shareholders is scheduled to be held on March 4 at Bamboo Airways Building (Cau Giay District, Hanoi). The 1st Extraordinary General Meeting of Shareholders in 2023 of FLC, which was held on February 5, could not take place because the number of shareholders attending was not enough to represent more than 50% of the total number of voting shares.
The content of the Extraordinary General Meeting of Shareholders is to dismiss Mr. Dang Tat Thang - former Vice Chairman of FLC from the position of member of the Board of Directors, and at the same time plan to elect two additional members of the Board of Directors for the 2021 - 2026 term.
Previously, in March 2022, Mr. Dang Tat Thang was elected Chairman of the Board of Directors of FLC after Mr. Trinh Van Quyet was arrested for stock price manipulation. On July 2, 2022, FLC held an extraordinary shareholders' meeting and elected Mr. Le Ba Nguyen as Chairman of the Board of Directors. Mr. Dang Tat Thang himself remained Vice Chairman of the Board of Directors of FLC and by the end of July 2022, he resigned from the company for personal reasons.
Source: https://thanhnien.vn/chinh-thuc-huy-niem-yet-co-phieu-flc-185230214105815387.htm
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